![]() The book begins by discussing the concept of PAWs, or “ Prodigious Accumulator of Wealth (PAW)”. It also discusses the role of consumption in our society and how it affects our economic status. The book highlights the characteristics of these people, who are often self-employed or own businesses, and their families. ![]() The Millionaire Next Door is a book about people who have achieved wealth through their own private businesses and are living a high-consumption lifestyle. They believe that financial independence is more important than status.They allocate their time, energy, and money efficiently, in ways that enable them to accumulate wealth.So what are the common traits of these millionaires? The authors of The Millionaire Next Door identify seven common traits: In fact, many millionaires come from modest backgrounds. ![]() Nor are they all people who come from affluent backgrounds. In fact, only about 25% of American millionaires hold a college degree. So who are these millionaires? Contrary to popular belief, most are not college graduates. Based on this definition, there are approximately 10 million millionaires in the United States. A millionaire is someone who has accumulated at least one million dollars in assets, excluding their primary residence and collectibles.
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